MCHP - News and Analysis from Seeking Alpha 'MCHP' Tag RSS Syndication from SeekingAlpha.com SeekingAlpha.com http://seekingalpha.com/symbol/mchp Buying Bonds with Coupons that Grow http://seekingalpha.com/article/176937-buying-bonds-with-coupons-that-grow?source=feed 176937 High yield stocks are dull and defensive and have certainly been out of favor in a year characterized by one of the strongest rallies off the bottom in stock market history. We’ve pushed stock investing outside of the United States and have pointed out that we believe bond yields will rise over the next several years. Against a backdrop of great performance in the stock market since March, many market watchers are starting to rediscover stock with high dividend yields. Barron’s wrote a cover story on this topic this week.

If bond yields go up, the normal argument would be that you should stay away from high dividend yield stocks because higher bond rates is more competition for stocks purchased to capture a high dividend. This logic may be right at certain times in a market cycle, but it’s not right now. It seemed right on Friday, when utilities took a hit as bond yields spiked.

]]> Mon, 07 Dec 2009 13:57:02 -0500 Fred Fraenkel Fred Fraenkel submits:

High yield stocks are dull and defensive and have certainly been out of favor in a year characterized by one of the strongest rallies off the bottom in stock market history. We’ve pushed stock investing outside of the United States and have pointed out that we believe bond yields will rise over the next several years. Against a backdrop of great performance in the stock market since March, many market watchers are starting to rediscover stock with high dividend yields. Barron’s wrote a cover story on this topic this week.

If bond yields go up, the normal argument would be that you should stay away from high dividend yield stocks because higher bond rates is more competition for stocks purchased to capture a high dividend. This logic may be right at certain times in a market cycle, but it’s not right now. It seemed right on Friday, when utilities took a hit as bond yields spiked.


Complete Story »]]> T BMY EQY FE NYX MCHP MRK RDS.A SE SBS VZ Fred Fraenkel 5 Top S&P 500 Stocks by Yield, Cash and Debt http://seekingalpha.com/article/176348-5-top-s-p-500-stocks-by-yield-cash-and-debt?source=feed 176348 When reviewing all the stocks that make up the Standard & Poor's 500 Index, I was only able to come up with five stocks that yield 3% or more, a decent amount of cash, and total debt of $500 million or less.

Automatic Data Processing, Inc. (ADP), the payroll outsourcing company, yields 3%, has $1.62 billion in cash, with only $42.2 million in debt.

]]> Thu, 03 Dec 2009 07:20:52 -0500 Stockerblog Stockerblog submits:

When reviewing all the stocks that make up the Standard & Poor's 500 Index, I was only able to come up with five stocks that yield 3% or more, a decent amount of cash, and total debt of $500 million or less.

Automatic Data Processing, Inc. (ADP), the payroll outsourcing company, yields 3%, has $1.62 billion in cash, with only $42.2 million in debt.


Complete Story »]]> ADP GPC PBCT MCHP MOLX Stockerblog Tech: Is Its Run Over for Now? http://seekingalpha.com/article/174373-tech-is-its-run-over-for-now?source=feed 174373

Merrill Lynch downgraded several semiconductor names this morning citing unfavorable cyclical trends and a normalization in inventory restocking. The semis are tanking3.5% on the report and many investors fear the inventory restocking that has powered much of the fundamental strength in the sector could be slowing. The Merrill analysts wrote:

“We are downgrading our view on the sector given unfavorable indications from our cyclical framework. In particular, our industry model suggests that following a period of rapid replenishment of inventory and normalization of semi shipments to true consumption levels, inventories in the supply chain are approaching a level suggesting a modest overshoot versus equilibrium levels. While we see limited risk to near-term estimates, we think the longer this persists the greater the risk of a correction in the supply chain. Barring a sharp upturn in the global economies, this, in our view, renders the risk reward associated with ownership of chip stocks unattractive.”

]]> Thu, 19 Nov 2009 14:47:07 -0500 The Pragmatic Capitalist The Pragmatic Capitalist submits:

Merrill Lynch downgraded several semiconductor names this morning citing unfavorable cyclical trends and a normalization in inventory restocking. The semis are tanking3.5% on the report and many investors fear the inventory restocking that has powered much of the fundamental strength in the sector could be slowing. The Merrill analysts wrote:

“We are downgrading our view on the sector given unfavorable indications from our cyclical framework. In particular, our industry model suggests that following a period of rapid replenishment of inventory and normalization of semi shipments to true consumption levels, inventories in the supply chain are approaching a level suggesting a modest overshoot versus equilibrium levels. While we see limited risk to near-term estimates, we think the longer this persists the greater the risk of a correction in the supply chain. Barring a sharp upturn in the global economies, this, in our view, renders the risk reward associated with ownership of chip stocks unattractive.”


Complete Story »]]> INTC LSI MCHP MRVL MXIM POWI TXN The Pragmatic Capitalist Report from Europe: Market Senses the Rally is Overdone http://seekingalpha.com/article/174352-report-from-europe-market-senses-the-rally-is-overdone?source=feed 174352

Wednesday will be remembered more for incompetent visually impaired Swedish officials and Messieur “Thieving” Henry than any price action on the markets. For the record, U.S. Stocks fell as profit forecasts dragged tech shares lower. Equities slipped, pulling the S&P 500 down from a 13-month high, as technology companies slid after profit forecasts at Autodesk (ADSK) and Salesforce.com (CRM) trailed some analyst estimates. Autodesk, the biggest maker of engineering-design software, slid 10% after saying job losses in core markets are making the company’s recovery “challenging.” Salesforce.com, the largest seller of Web-based customer-management software, tumbled 3.1%.

The market’s decline was limited as Bank of America (BAC) rallied after John Paulson’s hedge fund said the shares may almost double, while takeover speculation lifted Colgate-Palmolive (CL) and E*Trade Financial (ETFC). The S&P 500 fell 0.1% to 1,109.8. The Dow Jones Industrial Average lost 11.11 points, or 0.1%, to 10,426.31. About three stocks dropped for every two that rose on the NYSE. The dollar weakened and gold climbed to a record $1,153.40 an ounce.

]]> Thu, 19 Nov 2009 12:57:34 -0500 The Mole The Mole submits:

Wednesday will be remembered more for incompetent visually impaired Swedish officials and Messieur “Thieving” Henry than any price action on the markets. For the record, U.S. Stocks fell as profit forecasts dragged tech shares lower. Equities slipped, pulling the S&P 500 down from a 13-month high, as technology companies slid after profit forecasts at Autodesk (ADSK) and Salesforce.com (CRM) trailed some analyst estimates. Autodesk, the biggest maker of engineering-design software, slid 10% after saying job losses in core markets are making the company’s recovery “challenging.” Salesforce.com, the largest seller of Web-based customer-management software, tumbled 3.1%.

The market’s decline was limited as Bank of America (BAC) rallied after John Paulson’s hedge fund said the shares may almost double, while takeover speculation lifted Colgate-Palmolive (CL) and E*Trade Financial (ETFC). The S&P 500 fell 0.1% to 1,109.8. The Dow Jones Industrial Average lost 11.11 points, or 0.1%, to 10,426.31. About three stocks dropped for every two that rose on the NYSE. The dollar weakened and gold climbed to a record $1,153.40 an ounce.


Complete Story »]]> SPY DIA QQQQ ADSK CRM BAC CL ETFC MTU MU NSM INTC MCHP SNDK TOL SCGLY.PK IFX TXN AKH RBGPF.PK GDNNY.PK BX SBMRY.PK VLKAF.PK MAKSY.PK MRWSY.PK SWY BCM AIB MTB RY The Mole Are Semiconductors Topping Out? http://seekingalpha.com/article/174259-are-semiconductors-topping-out?source=feed 174259 As the Nasdaq moved to fresh 52 week highs two days ago, the semiconductors failed to confirm this move to new highs. After having recently broken back above their 50 Day SMA, the inability of the semiconductors to move to new highs alongside the Nasdaq is a negative divergence. Having been a big leadership group for the Nasdaq since equities bottomed in March, this recent negative action in the group bears watching in here with a potential top possibly being put in.

It will be interesting to see how the group acts today after being downgraded this morning by Bank of America Merrill Lynch. Citing "a period of rapid replenishment of inventory and normalization of semi shipments to 'true' consumption levels, inventories in the supply chain are approaching a level suggesting a modest overshoot vs. equilibrium levels," the broker said. INTC, TXN, MRVL, & LSI were cut to neutral from a buy rating while MXIM, NSM, POWI, & MCHP were cut to underperform from a neutral rating.

]]> Thu, 19 Nov 2009 07:37:00 -0500 The Inflection Point As the Nasdaq moved to fresh 52 week highs two days ago, the semiconductors failed to confirm this move to new highs. After having recently broken back above their 50 Day SMA, the inability of the semiconductors to move to new highs alongside the Nasdaq is a negative divergence. Having been a big leadership group for the Nasdaq since equities bottomed in March, this recent negative action in the group bears watching in here with a potential top possibly being put in.

It will be interesting to see how the group acts today after being downgraded this morning by Bank of America Merrill Lynch. Citing "a period of rapid replenishment of inventory and normalization of semi shipments to 'true' consumption levels, inventories in the supply chain are approaching a level suggesting a modest overshoot vs. equilibrium levels," the broker said. INTC, TXN, MRVL, & LSI were cut to neutral from a buy rating while MXIM, NSM, POWI, & MCHP were cut to underperform from a neutral rating.


Complete Story »]]> INTC TXN MRVL LSI MXIM NSM POWI MCHP The Inflection Point Four Dividend Increases in the News http://seekingalpha.com/article/172209-four-dividend-increases-in-the-news?source=feed 172209 Many investors are being sold on the idea of generating income in retirement by solely focusing on fixed income securities. That way they would have a stable income pretty much for life and there is a high likelihood that the principle would be returned intact after the bond matures. The main problem with this strategy is that while the income would remain unchanged over time, its real purchasing power would decline. If however investors purchased a diversified list of dividend growth stocks, they would be able to generate enough income and also enjoy the growing stream of distributions over time. That way investors would not have to worry too much about inflation eroding the purchasing power of their passive income. By focusing on such lists as dividend aristocrats, dividend achievers and checking the list of dividend increases regularly, investors could find the right dividend picks for their portfolios.

The following companies announced dividend increases last week:

]]> Mon, 09 Nov 2009 09:40:16 -0500 Dividend Growth Investor Dobromir Stoyanov submits:

Many investors are being sold on the idea of generating income in retirement by solely focusing on fixed income securities. That way they would have a stable income pretty much for life and there is a high likelihood that the principle would be returned intact after the bond matures. The main problem with this strategy is that while the income would remain unchanged over time, its real purchasing power would decline. If however investors purchased a diversified list of dividend growth stocks, they would be able to generate enough income and also enjoy the growing stream of distributions over time. That way investors would not have to worry too much about inflation eroding the purchasing power of their passive income. By focusing on such lists as dividend aristocrats, dividend achievers and checking the list of dividend increases regularly, investors could find the right dividend picks for their portfolios.

The following companies announced dividend increases last week:


Complete Story »]]> UVV KIM MCHP AAN Dividend Growth Investor 4 Stocks that Raised Dividends http://seekingalpha.com/article/171829-4-stocks-that-raised-dividends?source=feed 171829 Investing in Dividend Stocks is a long-term strategy. Frequent buying and selling of dividend stocks can significantly increase your expenses and taxes, thus lowering your returns. A growing dividend is a strong indication of a company’s increasing intrinsic value. Great companies that increase dividends tend to have rising share prices over time. Holding only first-rate businesses protects your dividend streams and helps ensure you’ll also get steady price appreciation.

]]> Fri, 06 Nov 2009 10:53:04 -0500 Dividends4Life Dividends4Life submits:

Investing in Dividend Stocks is a long-term strategy. Frequent buying and selling of dividend stocks can significantly increase your expenses and taxes, thus lowering your returns. A growing dividend is a strong indication of a company’s increasing intrinsic value. Great companies that increase dividends tend to have rising share prices over time. Holding only first-rate businesses protects your dividend streams and helps ensure you’ll also get steady price appreciation.


Complete Story »]]> MSEX AAN MCHP UVV Dividends4Life Wall Street Breakfast: Must-Know News http://seekingalpha.com/article/171447-wall-street-breakfast-must-know-news?source=feed 171447

  • Fed stays put. The Fed Open Market Committee left target rates unchanged at 0-0.25% by unanimous vote, saying conditions are still "likely to warrant exceptionally low levels of the federal funds rate for an extended period." The Fed acknowledged an ongoing pickup in economic activity, but warned things are likely to remain weak for a while. It noted "substantial" resource slack will continue to dampen cost pressures, and it continues to believe "inflation will remain subdued for some time." It also pared its expectations for buying agency debt and agency MBS to $175B compared to a former maximum of $200B, to wrap up by the end of Q1. Here's a side-by-side comparison of Wednesday's statement with the previous one. Stocks surged after the statement, but a late-day selloff sent major indexes back to breakeven.
    • Attention Wall Street Breakfast readers: We're looking for a freelance financial journalist to produce WSB and help with our Market Currents blog in Rachael's absence. More details here.
  • Dodd's drastic detour on bank regulation. Senate Banking Committee Chairman Christopher Dodd is reportedly readying legislation that would strip the Fed and FDIC of almost all their bank-supervision powers, creating in their place a new agency in charge of supervising all banks and bank-holding companies. Dodd's proposal would also create a council of regulators, overseen by the White House, to monitor systemic risks to the financial system. The suggestion is in stark contrast to approaches taken by the House and favored by the Obama administration, which have pushed to expand the Fed's powers. Dodd's model is likely to face heavy resistance, particularly from the banking industry, which is ironic since Dodd has been criticized for being too cozy with Wall Street bankers.
  • Skype deal almost done. The private-equity investors that agreed to buy 65% of Skype from eBay (EBAY) for about $2.1B are on the verge of settling their dispute with Skype's founders in a deal that will give them 10% of Skype and a presence on its board, in exchange for giving up rights to the peer-to-peer technology they control and a significant amount of cash. An official announcement could come as soon as this morning.
  • Senate shuffles taxes. The Senate passed legislation Wednesday that would give tax breaks to big companies impacted by the recession; increase taxes on multinational firms; extend and expand the homebuyers tax credit; and lengthen unemployment benefits. The proposed tax increases are aimed at offsetting the cost of the breaks, which business leaders worry may be a harbinger of more tax increases to come.
  • Chambers sounds all clear. Cisco's (CSCO) net profit dropped 19% on lower sales (see data below), but CEO John Chambers gave an optimistic outlook on the economy and said businesses were ready to resume spending on technology. On Cisco's Q3 earnings call, Chambers told analysts the recovery "is well underway" and that economic improvements were "gaining momentum" worldwide. He also predicted Cisco's revenue would grow in Q4 after a year of contraction.
  • Junk default rate hits post-Depression high. The global speculative-grade default rate rose to 12.4% in October, surpassing the record set in 1991 for the highest proportion of defaults since the Great Depression, Moody's said in a report this morning. Moody's believes the default rate may peak in November at 12.5%, noting the total number of defaults declined to eight in October, the lowest count this year.
  • Big bonuses are back. Wall Street incentive pay is set to rise by about 40% according to a closely-watched survey to be released today, as stronger markets collide with the backlash over bonuses. Johnson Associates predicts incentive-based payouts will surge by as much as 60% from 2008, led by employees in rebounding businesses like fixed income and equities. In contrast, the firm predicts declines of 15-30% at hedge funds, private-equity firms and prime-brokerage operations which have seen a marked drop in AUM.
  • Consumer bankruptcy strikes new high. Consumer bankruptcy filings hit 135,913 in October, an 8.9% jump from September, and 27.9% higher than a year ago, according to a study by the American Bankruptcy Institute. "The debt overhang from literally a decade or more of really high consumer spending and low savings rates has put families in a particularly vulnerable spot," ABI's Samuel Gerdano said. The rise outpaced a 7% month-on-month increase in business filings.
  • Downgrade dominance declines. S&P said it downgraded only one more nonfinancial firm in October than it upgraded (24-23), a marked improvement considering the downgrade/upgrade ratio from Sept. 2008 to Aug. 2009 was 835-115. S&P said the large drop "supports our belief that aggregate credit quality, although weak, is stabilizing," and noted that the number of companies with a negative ratings outlook or on watch for downgrade has declined steadily. Meanwhile, more than $4B in new corporate bonds were offered Wednesday, including a $2B sale by DuPont (DD).
  • BOE boosts bond buying: The Bank of England kept its target bank rate at 0.5%, as expected, but raised its bond buying program to £200B from £175B, which it expects to complete in about three months. "Banks’ funding conditions have improved, though financial conditions remain fragile," the Bank said, and noted "a number of indicators of spending and confidence, however, suggest that a pickup in economic activity may soon be evident."
  • Private-sector jobs still sliding. ADP's October employment report showed private U.S. payrolls declined by 203,000, while revising September's loss to 227K from 254K - the seventh straight month of declining job losses. ADP's report comes two days before the government's official nonfarm payroll data, and has been reasonably well correlated with NFP data in recent months. Consensus estimates suggest 150–175K job losses in October and an unemployment rate of 9.9%.
  • Online job seeking rises slowly. Monster's index of online job advertising inched up to 120, vs. 119 in Sept and 150 a year ago. Healthcare and public administration demonstrated solid growth, but retail and hospitality hiring retracted. "The rise in the October Index, along with an improvement in the annual rate, indicate a mild expansion in the underlying employer demand for workers," Monster said. "While the decline in consumer confidence has likely contributed to reduced job demand in the retail and hospitality sectors, employers are actively recruiting in the healthcare and public sectors, resulting in stability of the overall Index."

Earnings: Thur. Before Open

  • Allied Capital (ALD): Q3 EPS of $0.02 misses by $0.05. Revenue of $M in-line. Shares -1.3% premarket. (PR)
  • Biovail (BVF): Q3 EPS of $0.44 beats by $0.04. Revenue of $212M in-line. (PR)
  • Cardinal Health (CAH): FQ1 EPS of $0.54 beats by $0.11. Revenue of $24.8B (+5.9%) vs. $24B. (PR)
  • Canadian Natural Resource (CNQ): Q3 EPS of C$1.21 misses by C$0.04. Revenue of C$2.82B (+2.7%) vs. C$2.99B. (PR)
  • CenturyTel (CTL): Q3 EPS of $0.90 beats by $0.09. Revenue of $1.87B (+188.3%) in-line. (PR)
  • CIGNA (CI): Q3 EPS of $1.13 beats by $0.10. Revenue of $4.52B (-6.9%) in-line. (PR)
  • CVS Caremark (CVS): Q3 EPS of $0.65 beats by $0.01. Revenue of $24.6B (+17.7%) in-line. Shares +1% premarket. (PR)
  • Delta Petroleum (DPTR): Q3 EPS of -$0.35 misses by $0.24. Revenue of $23.9M (-66.8%) vs. $21.9M. "We are extremely disappointed with the results of the Gray well, but exploration drilling carries with it significant risks." Shares -12.8% premarket. (PR)
  • DirecTV Group (DTV): Q3 EPS of $0.37 misses by $0.02. Revenue of $5.47B in-line. (PR)
  • Dr Pepper Snapple (DPN): Q3 EPS of $0.54 beats by $0.05. Revenue of $1.43B (-4%) in-line. Sees full-year EPS of $1.92-1.96 vs. $1.97. ""While the economy is showing some signs of recovery, it's still too early to see this translate into higher beverage sales. For the quarter, liquid refreshment beverage trends remained negative." Shares +0.7% premarket. (PR)
  • Dynegy (DYN): Q3 EPS of -$0.10 misses by $0.13. Revenue of $673M (-61.7%) vs. $877M. (PR)
  • Frontier Oil (FTO): Q3 EPS of -$0.26 misses by $0.11. Revenue of $1.1B (-45.4%) in-line. (PR)
  • King Pharmaceuticals (KG): Q3 EPS of $0.29 beats by $0.02. Revenue of $463M (+19.3%) vs. $445M. (PR)
  • Lamar Advertising (LAMR): Q3 EPS of -$0.05 beats by $0.11. Revenue of $167M (-13%) vs. $164M. (PR)
  • Macerich (MAC): Q3 FFO of $0.97 beats by $0.05. Revenue of $201M (+49.8%) in-line. (PR)
  • Manulife Financial (MFC): Q3 EPS of C-$0.12 misses by C$0.32. Revenue of C$13.75B. (PR)
  • MGM Mirage (MGM): Q3 EPS of $0.02 beats by $0.10. Revenue of $1.71B (-12.7%) vs. $1.47B. Las Vegas Strip RevPAR fell 21%. Amends credit facility to refinance existing debt and provide more debt of up to $1B. Shares +5.7% premarket. (PR)
  • MetroPCS Communications (PCS): Q3 EPS of $0.21 beats by $0.12. Revenue of $895M (+30.4%) vs. $869M. (PR)
  • MF Global (MF): FQ2 EPS of $0.01 misses by $0.03. Revenue of $493M (-40.9%) vs. $273M. (PR)
  • Nasdaq (NDAQ): Q3 EPS of $0.42 in-line. Revenue of $691M (+3.3%) vs. $355M. (PR)
  • Petrohawk Energy (HK): Q3 EPS of $0.14 beats by $0.02. Revenue of $238M (-22%) vs. $305M. (PR)
  • Plains Exploration & Production (PXP): Q3 EPS of $0.30 misses by $0.23. Revenue of $313M (-56.5%) vs. $376M. Shares -0.6% premarket. (PR)
  • Sara Lee (SLE): FQ1 EPS of $0.24 beats by $0.08. Revenue of $2.59B (-7.4%) vs. $3.16B. Shares +0.2% premarket. (PR)
  • Sirius XM Radio (SIRI): Q3 EPS of $0.00 beats by $0.02. Revenue of $630M (+2.8%) vs. $609M. Ends quarter with 18,515,730 subscribers, +102,295 from Q2. Shares +3.9% premarket. (PR)
  • Spectra Energy (SE): Q3 EPS of $0.30 beats by $0.04. Revenue of $933M (-13.6%) vs. $986M. (PR)
  • Teradata (TDC): Q3 EPS of $0.38 beats by $0.09. Revenue of $425M (-3.2%) in-line. (PR)
  • Thomson Reuters (TRI): Q3 EPS of $0.43 beats by $0.03. Revenue of $3.21B (-3.6%) in-line. "While the weak year-to-date net sales experienced in recent quarters are now flowing through into revenues, we expect this dip to be shallow and limited to the next few quarters." (PR)
  • Time Warner Cable (TWC): Q3 EPS of $0.76 beats by $0.01. Revenue of $4.5B (+3.6%) in-line. (PR)
  • Watson Wyatt (WW): FQ1 EPS of $0.84 beats by $0.12. Revenue of $401M (-5.8%) vs. $394M. Sees FQ2 EPS of $0.81-0.86 vs. $0.89 (PR)
  • Wendy's Arby's Group (WEN): Q3 EPS of $0.06 in-line. Revenue of $903M vs. $916M. Shares +3.8% premarket. (PR)

Earnings: Wed. After Close

  • Allstate (ALL): Q3 EPS of $0.99 misses by $0.02. Revenue of $7.6B (+4%) vs. $8.5B. Shares -2.1% AH. (8-K)
  • Amdocs (DOX): FQ4 EPS of $0.53 beats by $0.04. Revenue of $707M (-14%) vs. $679M. Sees Q1 EPS of $0.51-0.55 vs. $0.50, on revenue of $705M-725M vs. $676M. Shares +6.2% AH. (PR)
  • Cisco Systems (CSCO): Q3 EPS of $0.36 beats by $0.05. Revenue of $9B (-13%) vs. $8.7B. Shares +2.8% AH. (PR)
  • Corrections Corp. of America (CXW): Q3 EPS of $0.39 beats by $0.07. Revenue of $426M (+6%) vs. $423M. Shares -2.7% AH. (PR)
  • Eagle Bulk Shipping (EGLE): Q3 EPS of $0.06 beats by $0.03. Revenue of $42M (-19%) in-line. Shares -5.7% AH. (PR)
  • Evergreen Solar (ESLR): Q3 EPS of -$0.40 misses by $0.32. Revenue of $78M (+251%) vs. $74M. Shares +2.1% AH. (PR)
  • Goldcorp (GG): Q3 EPS of $0.19 beats by $0.03. Revenue of $692M (+25%) vs. $614M. Shares +2.1% AH. (PR)
  • Goodrich Petroleum (GDP): Q3 EPS of -$0.87 misses by $0.70. Revenue of $24M (-61%) vs. $52M. Shares -7% AH. (PR)
  • Health Care REIT (HCN): Q3 FFO (normalized) of $0.77 in-line. Revenue of $145M (+4%) vs. $143M. Sees full-year EPS of $3.10-3.12 vs. $3.13. Shares +1.6% AH. (PR)
  • ION Geophysical (IO): Q3 EPS of -$0.06 misses by $0.03. Revenue of $102.4M (-53%) vs. $102.6M. Shares -8.4% AH. (PR)
  • Microchip Technology (MCHP): FQ2 EPS of $0.29 beats by $0.08. Revenue of $227M (-16%) vs. $218M. Sees FQ3 EPS of $0.33-0.35 vs. $0.24, on revenue of $236M-245M vs. $224M. Shares +1.6% AH. (PR)
  • Murphy Oil (MUR): Q3 EPS of $0.98 misses by $0.01. Revenue of $5.2B (-37%) vs. $4.4B. Sees Q4 EPS of $0.75-0.90 vs. $1.18. Shares -2% AH. (PR)
  • News Corp. (NWS): FQ1 EPS of $0.22 beats by $0.04. Revenue of $7.2B (-4%) in-line. Shares +3% AH. (PR)
  • ON Semiconductor (ONNN): Q3 EPS of $0.16 beats by $0.06. Revenue of $473M (-19%) vs. $455M. Shares +4% AH. (PR)
  • Prudential Financial (PRU): Q3 EPS of $1.59 beats by $0.26. Revenue of $6.6B (+4%) vs. $6.65B. Shares +0.4% AH. (PR)
  • Qualcomm (QCOM): FQ4 EPS of $0.48 misses by $0.04. Revenue of $2.7B (-19%) vs. $2.8B. Sees Q1 revenue of $2.55B-2.75B vs. $2.84B. Shares +1% AH. (PR)
  • Sunstone Hotel Investors (SHO): Q3 FFO of $0.14 in-line. Revenue of $176M (-20%) vs. $180M. Shares +2% AH. (PR)
  • THQ (THQI): FQ2 EPS of -$0.08 beats by $0.40. Revenue of $101M (-39%) vs. $92M. Shares +11.5% AH. (PR)
  • Whole Foods Market (WFMI): FQ4 EPS of $0.20 beats by $0.02. Revenue of $1.8B (-2%) in-line. Same-store sales down 0.9%. Shares -7.7% AH. (PR)

Today's Markets

Asian markets were mixed Thursday. Europe is lower at midday, and futures are flat.

]]> Thu, 05 Nov 2009 07:18:56 -0500 SA Editor Eli Hoffmann SA Editor Eli Hoffmann submits:

  • Fed stays put. The Fed Open Market Committee left target rates unchanged at 0-0.25% by unanimous vote, saying conditions are still "likely to warrant exceptionally low levels of the federal funds rate for an extended period." The Fed acknowledged an ongoing pickup in economic activity, but warned things are likely to remain weak for a while. It noted "substantial" resource slack will continue to dampen cost pressures, and it continues to believe "inflation will remain subdued for some time." It also pared its expectations for buying agency debt and agency MBS to $175B compared to a former maximum of $200B, to wrap up by the end of Q1. Here's a side-by-side comparison of Wednesday's statement with the previous one. Stocks surged after the statement, but a late-day selloff sent major indexes back to breakeven.
    • Attention Wall Street Breakfast readers: We're looking for a freelance financial journalist to produce WSB and help with our Market Currents blog in Rachael's absence. More details here.
  • Dodd's drastic detour on bank regulation. Senate Banking Committee Chairman Christopher Dodd is reportedly readying legislation that would strip the Fed and FDIC of almost all their bank-supervision powers, creating in their place a new agency in charge of supervising all banks and bank-holding companies. Dodd's proposal would also create a council of regulators, overseen by the White House, to monitor systemic risks to the financial system. The suggestion is in stark contrast to approaches taken by the House and favored by the Obama administration, which have pushed to expand the Fed's powers. Dodd's model is likely to face heavy resistance, particularly from the banking industry, which is ironic since Dodd has been criticized for being too cozy with Wall Street bankers.
  • Skype deal almost done. The private-equity investors that agreed to buy 65% of Skype from eBay (EBAY) for about $2.1B are on the verge of settling their dispute with Skype's founders in a deal that will give them 10% of Skype and a presence on its board, in exchange for giving up rights to the peer-to-peer technology they control and a significant amount of cash. An official announcement could come as soon as this morning.
  • Senate shuffles taxes. The Senate passed legislation Wednesday that would give tax breaks to big companies impacted by the recession; increase taxes on multinational firms; extend and expand the homebuyers tax credit; and lengthen unemployment benefits. The proposed tax increases are aimed at offsetting the cost of the breaks, which business leaders worry may be a harbinger of more tax increases to come.
  • Chambers sounds all clear. Cisco's (CSCO) net profit dropped 19% on lower sales (see data below), but CEO John Chambers gave an optimistic outlook on the economy and said businesses were ready to resume spending on technology. On Cisco's Q3 earnings call, Chambers told analysts the recovery "is well underway" and that economic improvements were "gaining momentum" worldwide. He also predicted Cisco's revenue would grow in Q4 after a year of contraction.
  • Junk default rate hits post-Depression high. The global speculative-grade default rate rose to 12.4% in October, surpassing the record set in 1991 for the highest proportion of defaults since the Great Depression, Moody's said in a report this morning. Moody's believes the default rate may peak in November at 12.5%, noting the total number of defaults declined to eight in October, the lowest count this year.
  • Big bonuses are back. Wall Street incentive pay is set to rise by about 40% according to a closely-watched survey to be released today, as stronger markets collide with the backlash over bonuses. Johnson Associates predicts incentive-based payouts will surge by as much as 60% from 2008, led by employees in rebounding businesses like fixed income and equities. In contrast, the firm predicts declines of 15-30% at hedge funds, private-equity firms and prime-brokerage operations which have seen a marked drop in AUM.
  • Consumer bankruptcy strikes new high. Consumer bankruptcy filings hit 135,913 in October, an 8.9% jump from September, and 27.9% higher than a year ago, according to a study by the American Bankruptcy Institute. "The debt overhang from literally a decade or more of really high consumer spending and low savings rates has put families in a particularly vulnerable spot," ABI's Samuel Gerdano said. The rise outpaced a 7% month-on-month increase in business filings.
  • Downgrade dominance declines. S&P said it downgraded only one more nonfinancial firm in October than it upgraded (24-23), a marked improvement considering the downgrade/upgrade ratio from Sept. 2008 to Aug. 2009 was 835-115. S&P said the large drop "supports our belief that aggregate credit quality, although weak, is stabilizing," and noted that the number of companies with a negative ratings outlook or on watch for downgrade has declined steadily. Meanwhile, more than $4B in new corporate bonds were offered Wednesday, including a $2B sale by DuPont (DD).
  • BOE boosts bond buying: The Bank of England kept its target bank rate at 0.5%, as expected, but raised its bond buying program to £200B from £175B, which it expects to complete in about three months. "Banks’ funding conditions have improved, though financial conditions remain fragile," the Bank said, and noted "a number of indicators of spending and confidence, however, suggest that a pickup in economic activity may soon be evident."
  • Private-sector jobs still sliding. ADP's October employment report showed private U.S. payrolls declined by 203,000, while revising September's loss to 227K from 254K - the seventh straight month of declining job losses. ADP's report comes two days before the government's official nonfarm payroll data, and has been reasonably well correlated with NFP data in recent months. Consensus estimates suggest 150–175K job losses in October and an unemployment rate of 9.9%.
  • Online job seeking rises slowly. Monster's index of online job advertising inched up to 120, vs. 119 in Sept and 150 a year ago. Healthcare and public administration demonstrated solid growth, but retail and hospitality hiring retracted. "The rise in the October Index, along with an improvement in the annual rate, indicate a mild expansion in the underlying employer demand for workers," Monster said. "While the decline in consumer confidence has likely contributed to reduced job demand in the retail and hospitality sectors, employers are actively recruiting in the healthcare and public sectors, resulting in stability of the overall Index."

Earnings: Thur. Before Open

  • Allied Capital (ALD): Q3 EPS of $0.02 misses by $0.05. Revenue of $M in-line. Shares -1.3% premarket. (PR)
  • Biovail (BVF): Q3 EPS of $0.44 beats by $0.04. Revenue of $212M in-line. (PR)
  • Cardinal Health (CAH): FQ1 EPS of $0.54 beats by $0.11. Revenue of $24.8B (+5.9%) vs. $24B. (PR)
  • Canadian Natural Resource (CNQ): Q3 EPS of C$1.21 misses by C$0.04. Revenue of C$2.82B (+2.7%) vs. C$2.99B. (PR)
  • CenturyTel (CTL): Q3 EPS of $0.90 beats by $0.09. Revenue of $1.87B (+188.3%) in-line. (PR)
  • CIGNA (CI): Q3 EPS of $1.13 beats by $0.10. Revenue of $4.52B (-6.9%) in-line. (PR)
  • CVS Caremark (CVS): Q3 EPS of $0.65 beats by $0.01. Revenue of $24.6B (+17.7%) in-line. Shares +1% premarket. (PR)
  • Delta Petroleum (DPTR): Q3 EPS of -$0.35 misses by $0.24. Revenue of $23.9M (-66.8%) vs. $21.9M. "We are extremely disappointed with the results of the Gray well, but exploration drilling carries with it significant risks." Shares -12.8% premarket. (PR)
  • DirecTV Group (DTV): Q3 EPS of $0.37 misses by $0.02. Revenue of $5.47B in-line. (PR)
  • Dr Pepper Snapple (DPN): Q3 EPS of $0.54 beats by $0.05. Revenue of $1.43B (-4%) in-line. Sees full-year EPS of $1.92-1.96 vs. $1.97. ""While the economy is showing some signs of recovery, it's still too early to see this translate into higher beverage sales. For the quarter, liquid refreshment beverage trends remained negative." Shares +0.7% premarket. (PR)
  • Dynegy (DYN): Q3 EPS of -$0.10 misses by $0.13. Revenue of $673M (-61.7%) vs. $877M. (PR)
  • Frontier Oil (FTO): Q3 EPS of -$0.26 misses by $0.11. Revenue of $1.1B (-45.4%) in-line. (PR)
  • King Pharmaceuticals (KG): Q3 EPS of $0.29 beats by $0.02. Revenue of $463M (+19.3%) vs. $445M. (PR)
  • Lamar Advertising (LAMR): Q3 EPS of -$0.05 beats by $0.11. Revenue of $167M (-13%) vs. $164M. (PR)
  • Macerich (MAC): Q3 FFO of $0.97 beats by $0.05. Revenue of $201M (+49.8%) in-line. (PR)
  • Manulife Financial (MFC): Q3 EPS of C-$0.12 misses by C$0.32. Revenue of C$13.75B. (PR)
  • MGM Mirage (MGM): Q3 EPS of $0.02 beats by $0.10. Revenue of $1.71B (-12.7%) vs. $1.47B. Las Vegas Strip RevPAR fell 21%. Amends credit facility to refinance existing debt and provide more debt of up to $1B. Shares +5.7% premarket. (PR)
  • MetroPCS Communications (PCS): Q3 EPS of $0.21 beats by $0.12. Revenue of $895M (+30.4%) vs. $869M. (PR)
  • MF Global (MF): FQ2 EPS of $0.01 misses by $0.03. Revenue of $493M (-40.9%) vs. $273M. (PR)
  • Nasdaq (NDAQ): Q3 EPS of $0.42 in-line. Revenue of $691M (+3.3%) vs. $355M. (PR)
  • Petrohawk Energy (HK): Q3 EPS of $0.14 beats by $0.02. Revenue of $238M (-22%) vs. $305M. (PR)
  • Plains Exploration & Production (PXP): Q3 EPS of $0.30 misses by $0.23. Revenue of $313M (-56.5%) vs. $376M. Shares -0.6% premarket. (PR)
  • Sara Lee (SLE): FQ1 EPS of $0.24 beats by $0.08. Revenue of $2.59B (-7.4%) vs. $3.16B. Shares +0.2% premarket. (PR)
  • Sirius XM Radio (SIRI): Q3 EPS of $0.00 beats by $0.02. Revenue of $630M (+2.8%) vs. $609M. Ends quarter with 18,515,730 subscribers, +102,295 from Q2. Shares +3.9% premarket. (PR)
  • Spectra Energy (SE): Q3 EPS of $0.30 beats by $0.04. Revenue of $933M (-13.6%) vs. $986M. (PR)
  • Teradata (TDC): Q3 EPS of $0.38 beats by $0.09. Revenue of $425M (-3.2%) in-line. (PR)
  • Thomson Reuters (TRI): Q3 EPS of $0.43 beats by $0.03. Revenue of $3.21B (-3.6%) in-line. "While the weak year-to-date net sales experienced in recent quarters are now flowing through into revenues, we expect this dip to be shallow and limited to the next few quarters." (PR)
  • Time Warner Cable (TWC): Q3 EPS of $0.76 beats by $0.01. Revenue of $4.5B (+3.6%) in-line. (PR)
  • Watson Wyatt (WW): FQ1 EPS of $0.84 beats by $0.12. Revenue of $401M (-5.8%) vs. $394M. Sees FQ2 EPS of $0.81-0.86 vs. $0.89 (PR)
  • Wendy's Arby's Group (WEN): Q3 EPS of $0.06 in-line. Revenue of $903M vs. $916M. Shares +3.8% premarket. (PR)

Earnings: Wed. After Close

  • Allstate (ALL): Q3 EPS of $0.99 misses by $0.02. Revenue of $7.6B (+4%) vs. $8.5B. Shares -2.1% AH. (8-K)
  • Amdocs (DOX): FQ4 EPS of $0.53 beats by $0.04. Revenue of $707M (-14%) vs. $679M. Sees Q1 EPS of $0.51-0.55 vs. $0.50, on revenue of $705M-725M vs. $676M. Shares +6.2% AH. (PR)
  • Cisco Systems (CSCO): Q3 EPS of $0.36 beats by $0.05. Revenue of $9B (-13%) vs. $8.7B. Shares +2.8% AH. (PR)
  • Corrections Corp. of America (CXW): Q3 EPS of $0.39 beats by $0.07. Revenue of $426M (+6%) vs. $423M. Shares -2.7% AH. (PR)
  • Eagle Bulk Shipping (EGLE): Q3 EPS of $0.06 beats by $0.03. Revenue of $42M (-19%) in-line. Shares -5.7% AH. (PR)
  • Evergreen Solar (ESLR): Q3 EPS of -$0.40 misses by $0.32. Revenue of $78M (+251%) vs. $74M. Shares +2.1% AH. (PR)
  • Goldcorp (GG): Q3 EPS of $0.19 beats by $0.03. Revenue of $692M (+25%) vs. $614M. Shares +2.1% AH. (PR)
  • Goodrich Petroleum (GDP): Q3 EPS of -$0.87 misses by $0.70. Revenue of $24M (-61%) vs. $52M. Shares -7% AH. (PR)
  • Health Care REIT (HCN): Q3 FFO (normalized) of $0.77 in-line. Revenue of $145M (+4%) vs. $143M. Sees full-year EPS of $3.10-3.12 vs. $3.13. Shares +1.6% AH. (PR)
  • ION Geophysical (IO): Q3 EPS of -$0.06 misses by $0.03. Revenue of $102.4M (-53%) vs. $102.6M. Shares -8.4% AH. (PR)
  • Microchip Technology (MCHP): FQ2 EPS of $0.29 beats by $0.08. Revenue of $227M (-16%) vs. $218M. Sees FQ3 EPS of $0.33-0.35 vs. $0.24, on revenue of $236M-245M vs. $224M. Shares +1.6% AH. (PR)
  • Murphy Oil (MUR): Q3 EPS of $0.98 misses by $0.01. Revenue of $5.2B (-37%) vs. $4.4B. Sees Q4 EPS of $0.75-0.90 vs. $1.18. Shares -2% AH. (PR)
  • News Corp. (NWS): FQ1 EPS of $0.22 beats by $0.04. Revenue of $7.2B (-4%) in-line. Shares +3% AH. (PR)
  • ON Semiconductor (ONNN): Q3 EPS of $0.16 beats by $0.06. Revenue of $473M (-19%) vs. $455M. Shares +4% AH. (PR)
  • Prudential Financial (PRU): Q3 EPS of $1.59 beats by $0.26. Revenue of $6.6B (+4%) vs. $6.65B. Shares +0.4% AH. (PR)
  • Qualcomm (QCOM): FQ4 EPS of $0.48 misses by $0.04. Revenue of $2.7B (-19%) vs. $2.8B. Sees Q1 revenue of $2.55B-2.75B vs. $2.84B. Shares +1% AH. (PR)
  • Sunstone Hotel Investors (SHO): Q3 FFO of $0.14 in-line. Revenue of $176M (-20%) vs. $180M. Shares +2% AH. (PR)
  • THQ (THQI): FQ2 EPS of -$0.08 beats by $0.40. Revenue of $101M (-39%) vs. $92M. Shares +11.5% AH. (PR)
  • Whole Foods Market (WFMI): FQ4 EPS of $0.20 beats by $0.02. Revenue of $1.8B (-2%) in-line. Same-store sales down 0.9%. Shares -7.7% AH. (PR)

Today's Markets

Asian markets were mixed Thursday. Europe is lower at midday, and futures are flat.


Complete Story »]]> DIA SPY QQQQ USO GLD ALL CI CSCO CXW DD DOX DYN EBAY EGLE ESLR GDP GG HCN HK IO LAMR MAC MCHP MF MUR NWS ONNN PCS PRU QCOM SE SHO THQI TWC WFMI WW CAH CVS DPN KG NDAQ SIRI SLE TRI WEN TDC ALD BVF CNQ CTL DPTR DTV FTO MFC MGM PXP Eli Hoffmann Microchip Technology Inc. F2Q10 (Qtr End 09/30/09) Earnings Call Transcript http://seekingalpha.com/article/171360-microchip-technology-inc-f2q10-qtr-end-09-30-09-earnings-call-transcript?source=feed 171360 Microchip Technology Inc. (MCHP)

F2Q10 (Qtr End 09/30/09) Earnings Call Transcript

November 4, 2009 6:00 pm ET

]]> Thu, 05 Nov 2009 00:10:20 -0500 Microchip Technology Inc. (MCHP)

F2Q10 (Qtr End 09/30/09) Earnings Call Transcript

November 4, 2009 6:00 pm ET


Complete Story »]]> MCHP Earnings Preview: Microchip Technology http://seekingalpha.com/article/171256-earnings-preview-microchip-technology?source=feed 171256 Microchip Technology (MCHP) is expected to report Q2 earnings after the market close on Wednesday, October 4, with a conference call scheduled for 6:00 pm ET.

Guidance

The consensus estimate is 21c for EPS and $218.31M for revenue, according to First Call. On Sept. 8 management raised Q2 guidance to EPS of 26c-27c and revenue of $206M-$214M.

]]> Wed, 04 Nov 2009 15:12:36 -0500 theflyonthewall.com theflyonthewall.com submits:

Microchip Technology (MCHP) is expected to report Q2 earnings after the market close on Wednesday, October 4, with a conference call scheduled for 6:00 pm ET.

Guidance

The consensus estimate is 21c for EPS and $218.31M for revenue, according to First Call. On Sept. 8 management raised Q2 guidance to EPS of 26c-27c and revenue of $206M-$214M.


Complete Story »]]> MCHP theflyonthewall.com Microchip Technology: Turnaround Time for This Tech Dividend Stock? http://seekingalpha.com/article/168629-microchip-technology-turnaround-time-for-this-tech-dividend-stock?source=feed 168629 Microchip Technology, (MCHP), a tech stock from our High Dividend Stocks tables has the second highest dividend yield, 5.13%, in the specialized semiconductors sub-sector. Like most other chip companies, they've been hurt in the downturn, as evidenced by their falling revenue and income for the period ending 6/30/09.

However, better news may be in store for investors when they report on Nov. 4th. Barron's recently reported that "channel checks and corporate booking trends suggest that chip companies will beat 3rd quarter estimates". Since chip companies have recently lagged the market, there should be some value in some of these stocks, such as MCHP.

]]> Sun, 25 Oct 2009 05:18:10 -0400 Double Dividend Stocks Microchip Technology, (MCHP), a tech stock from our High Dividend Stocks tables has the second highest dividend yield, 5.13%, in the specialized semiconductors sub-sector. Like most other chip companies, they've been hurt in the downturn, as evidenced by their falling revenue and income for the period ending 6/30/09.

However, better news may be in store for investors when they report on Nov. 4th. Barron's recently reported that "channel checks and corporate booking trends suggest that chip companies will beat 3rd quarter estimates". Since chip companies have recently lagged the market, there should be some value in some of these stocks, such as MCHP.


Complete Story »]]> MCHP Double Dividend Stocks Option Traders: Mixed Outlook for Key Semiconductor Earnings http://seekingalpha.com/article/166154-option-traders-mixed-outlook-for-key-semiconductor-earnings?source=feed 166154 This week will prove to be an important week for the Semiconductors (SMH), a group that has shown leadership through much of the rally. This week we will see earnings from a few key names including ASML Holding (ASML), Xilinx (XLNX), Altera (ALTR), Intel (INTC), Linear Tech (LLTC), Fairchild Semi (FCS), Advanced Micro (AMD), and Cypress Semi (CY).

It could prove to be a challenge beating investor expectations this quarter after many of the firms raised guidance back in early September (SkyWorks (SWKS), Texas Instruments (TXN), MicroChip (MCHP), Xilinx, and Altera), and with shares trading at 52 week highs for many of the semiconductors, we could see profit taking post-earnings.

]]> Tue, 13 Oct 2009 05:55:33 -0400 Joe Kunkle Joe Kunkle submits:

This week will prove to be an important week for the Semiconductors (SMH), a group that has shown leadership through much of the rally. This week we will see earnings from a few key names including ASML Holding (ASML), Xilinx (XLNX), Altera (ALTR), Intel (INTC), Linear Tech (LLTC), Fairchild Semi (FCS), Advanced Micro (AMD), and Cypress Semi (CY).

It could prove to be a challenge beating investor expectations this quarter after many of the firms raised guidance back in early September (SkyWorks (SWKS), Texas Instruments (TXN), MicroChip (MCHP), Xilinx, and Altera), and with shares trading at 52 week highs for many of the semiconductors, we could see profit taking post-earnings.


Complete Story »]]> SMH LLTC TXN INTC LRCX BRCM ALTR ATHR OVTI ISIL SWKS AMAT MCHP XLNX Joe Kunkle Key Market Factors: Interest Rates, Gold, China and Japan http://seekingalpha.com/article/161419-key-market-factors-interest-rates-gold-china-and-japan?source=feed 161419 This is a shorter format for my weekly “Global Markets’ Key Factors” article, replacing details on 16 factors with commentary on the most important ones this week. Factor rating changes mainly reflect impact on the margin of news just this past week, previous week’s ratings are in ( ). Exhibits are grouped at the end of the article. As in all my articles, BTE is abbrev for better-than-expected, WTE worse, that’s just part of the game.

]]> Mon, 14 Sep 2009 14:22:23 -0400 John Furlan John Furlan submits:

This is a shorter format for my weekly “Global Markets’ Key Factors” article, replacing details on 16 factors with commentary on the most important ones this week. Factor rating changes mainly reflect impact on the margin of news just this past week, previous week’s ratings are in ( ). Exhibits are grouped at the end of the article. As in all my articles, BTE is abbrev for better-than-expected, WTE worse, that’s just part of the game.


Complete Story »]]> CHINA SPX TXN NSM ASML ALTR MCHP SKWS John Furlan Why the Bulls Are Skating on Thin Ice http://seekingalpha.com/article/160914-why-the-bulls-are-skating-on-thin-ice?source=feed 160914 Thursday, we had more "good news" on the economic front. Another 550,000+ Americans filed initial jobless claims -- the 35th straight week above the half-a-million mark.

As usual, data that should be seen as a cause for concern seemed to be the catalyst for renewed buying of equities, and the S&P 500 index climbed to its highest level in six months -- up 54 percent since March 9th.

]]> Thu, 10 Sep 2009 23:42:15 -0400 Michael Panzner Michael Panzner submits:

Thursday, we had more "good news" on the economic front. Another 550,000+ Americans filed initial jobless claims -- the 35th straight week above the half-a-million mark.

As usual, data that should be seen as a cause for concern seemed to be the catalyst for renewed buying of equities, and the S&P 500 index climbed to its highest level in six months -- up 54 percent since March 9th.


Complete Story »]]> ALTR DIOD MCHP TXN INTC SPY Michael Panzner Microchip Ups Guidance http://seekingalpha.com/article/160772-microchip-ups-guidance?source=feed 160772 On Tuesday, Microchip Technologies Inc. (MCHP) announced that results for the fiscal second quarter will surpass the guidance provided by the company earlier. Delaware-based Microchip Technologies is a leading provider of microcontrollers and analog semiconductors.

Management now expects net sales for the third quarter to increase by 12 % - 14% sequentially, up from the prior guidance of 7% - 11%, driven by good backlog and strong bookings and sales activities in the first two months for the quarter.

]]> Thu, 10 Sep 2009 05:03:43 -0400 Zacks.com Zacks.com submits:

On Tuesday, Microchip Technologies Inc. (MCHP) announced that results for the fiscal second quarter will surpass the guidance provided by the company earlier. Delaware-based Microchip Technologies is a leading provider of microcontrollers and analog semiconductors.

Management now expects net sales for the third quarter to increase by 12 % - 14% sequentially, up from the prior guidance of 7% - 11%, driven by good backlog and strong bookings and sales activities in the first two months for the quarter.


Complete Story »]]> MCHP Zacks.com Three Stocks Going Ex-Dividend Third Week of August http://seekingalpha.com/article/156061-three-stocks-going-ex-dividend-third-week-of-august?source=feed 156061 The stock trading technique called 'Buying Dividends' is becoming more and more popular. It is the process of buying stocks before the ex dividend date and selling the stock shortly after the ex date at about the same price, yet still being entitled to the dividend. This technique generally works only in bull markets.

When you buy dividends, there are many stocks in many different sectors to choose from. In order to be entitled to the dividend, you have to buy the stock before the ex-dividend date, and you can't sell the stock until after the ex date. The actual dividend may not be paid for another few weeks. WallStreetNewsNetwork has compiled a free downloadable and sortable Excel list of the stocks going ex dividend during the next. They came up with many companies all with market caps over $500 million. Here are a couple examples showing the stock symbol, the ex-dividend date and the yield:

]]> Fri, 14 Aug 2009 01:59:58 -0400 Stockerblog Stockerblog submits:

The stock trading technique called 'Buying Dividends' is becoming more and more popular. It is the process of buying stocks before the ex dividend date and selling the stock shortly after the ex date at about the same price, yet still being entitled to the dividend. This technique generally works only in bull markets.

When you buy dividends, there are many stocks in many different sectors to choose from. In order to be entitled to the dividend, you have to buy the stock before the ex-dividend date, and you can't sell the stock until after the ex date. The actual dividend may not be paid for another few weeks. WallStreetNewsNetwork has compiled a free downloadable and sortable Excel list of the stocks going ex dividend during the next. They came up with many companies all with market caps over $500 million. Here are a couple examples showing the stock symbol, the ex-dividend date and the yield:


Complete Story »]]> ED MCHP SON Stockerblog Wall Street Breakfast: Must-Know News http://seekingalpha.com/article/154545-wall-street-breakfast-must-know-news?source=feed 154545

  • Fannie asks for cash after loss. Fannie Mae (FNM) posted a heavy Q2 loss of $14.8B (see details below), its eighth quarterly loss in a row, prompting the mortgage lender to ask the government for a $10.7B capital injection. Fannie's cumulative losses over the last two years now stand at $101.6B, and the company has drawn $44.9B from the Treasury since April. The company said "we do not expect to operate profitably in the foreseeable future. We expect that we will experience adverse financial effects" during the fight against foreclosures. Shares fell 12.7% in after hours trading. Shares -11.4% premarket (7:00 ET).
  • Greenberg settles SEC charges. Hank Greenberg, former CEO and chairman of AIG (AIG), agreed to pay $15M to settle SEC charges accusing him of improper accounting transactions between 2000 and 2005. The SEC also charged former CFO Howard Smith, saying the two men 'were responsible for material misstatements' that created a 'false impression' of AIG's financial results. Smith settled with the SEC for $1.5M. (Read the SEC's statement)
  • Broker admits lying in fraud case. Julian Tzolov, a former Credit Suisse (CS) broker, testified before a jury that he and former partner Eric Butler lied to clients and sent them inaccurate information to cover up risky investments. In one of the first criminal trials connected to the credit crunch, Tzolov said he and Butler told clients certain securities were backed by government-guaranteed student loans when this was not the case, and that they did so in part to receive higher commissions. Butler is on trial for fraud, and Tzolov was called as a witness after pleading guilty to securities fraud, wire fraud, conspiracy and bail jumping last month.
  • NYT looking to sell Globe. The New York Times (NYT) confirmed for the first time that it has hired Goldman Sachs to help sell its Boston Globe and Worcester Telegram & Gazette newspapers, as well as their websites. In a regulatory filing, the company said the possible sale is part of a strategic restructuring in response to a heavy downturn in advertising and the migration of readers to the internet.
  • RBS posts loss on bad loans. Royal Bank of Scotland (RBS) posted a loss of £1.04B in H1, falling far short of the £1.1B profit consensus, after setting aside £7.52B ($12.62B) to cover bad loans. The bank expects impairments to remain at 'elevated levels,' and "there is every sign that our financial performance over the next two years, at a group level, will be poor due to the severe economic downturn in 2008 and 2009 and consequent impact on impairments and funding costs." Shares -14% premarket (7:00 ET).
  • FDIC chided for lax supervision. An agency watchdog found the FDIC failed to act in a timely manner to limit the commercial real estate losses that caused the collapse of two banks in Washington and Georgia. The watchdog's report said the FDIC could have exercised 'greater supervisory concern' after finding weaknesses in the banks' loan portfolios. (Read reports I and II (.pdf))
  • Twitter falls silent. Twitter and Facebook suffered outages and delays yesterday after denial of service attacks, raising the possibility of 'a single, massively coordinated attack' on social networking sites. Both services have been restored. Google (GOOG) managed to fend off a similar attack yesterday.
  • Exchanges back away from flash. The Nasdaq stock exchange and BATS exchange announced separately that they're both voluntarily ending the flash trading they started this year, effective September 1. The moves come amid an SEC investigation into the practice and ahead of a likely ban. Direct Edge, a fast growing rival that has used flash trading since 2006, continues to defend the practice.
  • Morgan leaves TARP behind. Morgan Stanley (MS) paid $950M to repurchase the warrant it issued the government, bringing Morgan's total payment to the government, including dividends, to $1.268B. CEO John Mack struck a positive note, saying "we appreciate the critical role that the U.S. government played last fall in helping stabilize the banking industry and financial markets at a moment of unprecedented crisis."
  • AmEx sees loan loss improvement. American Express (AXP) said write-offs tied to bad credit-card debt fell sharply for the second straight month, to 9.2% in July from 9.7% in June, and CEO Kenneth Chenault said he's seeing internal credit metrics improve for the first time in 18 months. Despite the positive improvements, analysts warned it's too soon to call a sector recovery, with many attributing the drop in charge-offs to a seasonal trend. In the specific case of American Express, Chenault was very clear that the improvements of the last two months are 'not seasonality.'
  • Clunkers gets new funds. As expected, the Senate approved an additional $2B for the 'Cash for Clunkers' program. The measure passed 60-37.
  • Jobless claims drop. Initial jobless claims came in at 550K, down 38K from a week ago (revised), and better than the 575K consensus. Continuing claims rose 69K to 6.31M.
  • Same-store sales slide. Retailers reported monthly same-store sales yesterday, with most falling short of consensus estimates. July sales were hurt by the continued trend of shoppers cutting back and waiting for discounts, and by a later start to the back-to-school shopping season.

Earnings: Friday Before Open

  • AIG (AIG): Q2 EPS of $2.57 vs. consensus of $1.67 (may not be comparable). Revenue of $29.5B (+48%) vs. $26B. Shares +3.6% premarket (7:10 ET). (PR)
  • American Oriental Bioengineering (AOB): Q2 EPS of $0.17 misses by $0.01. Revenue of $71M (+21%) vs. $75M. (PR)
  • ATP Oil & Gas (ATPG): Q2 EPS of -$0.10 beats by $0.09. Revenue of $81M (-58%) vs. $83M. (PR)
  • Cimarex Energy Co (XEC): Q2 EPS of $0.46 vs. $0.41 consensus (may not be comparable). Revenue of $223M (-64%) vs. $219M. (PR)
  • Magna International (MGA): Q2 EPS of -$1.29 misses by $0.28. Revenue of $3.7B (-45%) vs. $4.1M. (PR)
  • Mirant Corp. (MIR): Q2 EPS of $1.12 vs. consensus of $0.49 (may not be comparable). Revenue of $496M vs. $546M.
  • Senior Housing Properties Trust (SNH): Q2 FFO of $0.44 in-line. Revenue of $69M (+32%) vs. $68M. (PR)
  • Warner Chilcott (WCRX): Q2 EPS of $0.44 beats by $0.04. Revenue of $251M (+7%) vs. $252M. (PR)

Earnings: Thursday After Close

  • Alkermes (ALKS): FQ1 EPS of $0.01 beats by $0.09. Revenue of $47.5M (-41%) vs. $46.4M. (PR)
  • Assured Guaranty (AGO): Q2 EPS of $0.46 beats by $0.10. Revenue of $115M (-3%). (PR)
  • Beazer (BZH): FQ3 EPS of -$0.72 beats by $0.81. Revenue of $225M (-51%) vs. $226M. (PR)
  • CBS (CBS): Q2 EPS of $0.08 beats by $0.01. Revenue of $3B (-11%) in-line. (PR)
  • Chiquita (CQB): Q2 EPS of $1.95 beats by $1.13. Revenue of $955M (-4%) vs. $873M. (PR)
  • Computer Sciences (CSC): FQ1 EPS of $0.85 beats by $0.34. Revenue of $3.9B (-12%) in-line. Raises full-year EPS guidance to $4.80-5.00 from $4.20-4.30, vs. $4.18. (PR)
  • Crocs (CROX): Q2 EPS of -$0.06 beats by $0.15. Revenue of $198M (-11%) vs. $150M. Sees Q3 EPS of -$0.14 to -$0.16 vs. -$0.20. Sees Q3 sales of $150M-160M vs. $141M. (PR)
  • DCT Industrial Trust (DCT): Q2 EPS of $0.12 misses by $0.01. Revenue of $60M (-3%) vs. $61M. (PR)
  • Emulex (ELX): FQ4 EPS of $0.09 beats by $0.05. Revenue of $79M (-30%) vs. $78M. (PR)
  • EOG Resources (EOG): Q2 EPS of $0.73 beats by $0.31. Revenue of $861M (-21%) vs. $966M. PR)
  • Fannie Mae (FNM): Q2 EPS of -$2.67. Revenue of $5.6B (+41%). (.pdf)
  • Hansen Natural (HANS): Q2 EPS of $0.60 in-line. Revenue of $300M (+6%) vs. $309M. (PR)
  • Intrepid Potash (IPI): Q2 EPS of $0.19 misses by $0.04. Revenue of $73M (-30%) vs. $72M. (PR)
  • Leap Wireless International (LEAP): Q2 EPS of -$0.89 misses by $0.59. Revenue of $597M (+26%) vs. $636M. Net customer additions of 203,000 (+19%). Churn of 4.4%. Reduces guidance on full-year net customer addition to 1.5M. (PR)
  • Maxim Integrated Products (MXIM): FQ4 EPS of $0.11 beats by $0.10. Revenue of $395M (-21%) vs. $368M. Sees Q1 revenue of $415M-445M vs. $388M. (PR)
  • Microchip Technology (MCHP): FQ1 EPS of $0.15 beats by $0.02. Revenue of $193M (-28%) vs. $190M. Gross margin in Q1 of 51.4%. Sees Q2 EPS of $0.18-0.20 vs. $0.17. Sees Q3 revenue of $206M-214M vs. $200M. (PR)
  • Nvidia (NVDA): Q2 EPS of $0.07 beats by $0.09. Revenue of $777M (-13%) vs. $710M. Sees Q3 revenue up 5-7% over Q2. (PR)
  • Pepco Holdings (POM): Q2 EPS of $0.11 misses by $0.13. Revenue of $2.1B (-18%) vs. $2.7B. (PR)
  • Public Storage (PSA): Q2 FFO of $1.25 beats by $0.04. Revenue of $347M (-4%) vs. $394M. (PR)
  • Rovi Corp. (ROVI): Q2 EPS of $0.38 beats by $0.10. Revenue of $120M (+64%) vs. $110M. (PR)
  • Sapient (SAPE): Q2 EPS of $0.10 beats by $0.04. Revenue of $148M (-11%) vs. $144M. (PR)
  • SandRidge Energy (SD): Q2 EPS of $0.25 beats by $0.12. EBITDA of $144M (-18%). (PR)
  • Sequenom (SQNM): Q2 EPS of -$0.33 misses by $0.06. Revenue of $9M (-28%) vs. $8M. (PR)
  • VeriSign (VRSN): Q2 EPS of $0.31 misses by $0.01. Revenue of $257M (+6%) vs. $255M. (PR)
  • Westar Energy (WR): Q2 EPS of $0.35 in-line. Revenue of $468M (+4%) vs. $501M. (PR)

Today's Markets

Asian markets closed mostly down. European markets and U.S. futures are trending down too.

]]> Fri, 07 Aug 2009 07:18:23 -0400 SA Editor Rachael Granby

  • Fannie asks for cash after loss. Fannie Mae (FNM) posted a heavy Q2 loss of $14.8B (see details below), its eighth quarterly loss in a row, prompting the mortgage lender to ask the government for a $10.7B capital injection. Fannie's cumulative losses over the last two years now stand at $101.6B, and the company has drawn $44.9B from the Treasury since April. The company said "we do not expect to operate profitably in the foreseeable future. We expect that we will experience adverse financial effects" during the fight against foreclosures. Shares fell 12.7% in after hours trading. Shares -11.4% premarket (7:00 ET).
  • Greenberg settles SEC charges. Hank Greenberg, former CEO and chairman of AIG (AIG), agreed to pay $15M to settle SEC charges accusing him of improper accounting transactions between 2000 and 2005. The SEC also charged former CFO Howard Smith, saying the two men 'were responsible for material misstatements' that created a 'false impression' of AIG's financial results. Smith settled with the SEC for $1.5M. (Read the SEC's statement)
  • Broker admits lying in fraud case. Julian Tzolov, a former Credit Suisse (CS) broker, testified before a jury that he and former partner Eric Butler lied to clients and sent them inaccurate information to cover up risky investments. In one of the first criminal trials connected to the credit crunch, Tzolov said he and Butler told clients certain securities were backed by government-guaranteed student loans when this was not the case, and that they did so in part to receive higher commissions. Butler is on trial for fraud, and Tzolov was called as a witness after pleading guilty to securities fraud, wire fraud, conspiracy and bail jumping last month.
  • NYT looking to sell Globe. The New York Times (NYT) confirmed for the first time that it has hired Goldman Sachs to help sell its Boston Globe and Worcester Telegram & Gazette newspapers, as well as their websites. In a regulatory filing, the company said the possible sale is part of a strategic restructuring in response to a heavy downturn in advertising and the migration of readers to the internet.
  • RBS posts loss on bad loans. Royal Bank of Scotland (RBS) posted a loss of £1.04B in H1, falling far short of the £1.1B profit consensus, after setting aside £7.52B ($12.62B) to cover bad loans. The bank expects impairments to remain at 'elevated levels,' and "there is every sign that our financial performance over the next two years, at a group level, will be poor due to the severe economic downturn in 2008 and 2009 and consequent impact on impairments and funding costs." Shares -14% premarket (7:00 ET).
  • FDIC chided for lax supervision. An agency watchdog found the FDIC failed to act in a timely manner to limit the commercial real estate losses that caused the collapse of two banks in Washington and Georgia. The watchdog's report said the FDIC could have exercised 'greater supervisory concern' after finding weaknesses in the banks' loan portfolios. (Read reports I and II (.pdf))
  • Twitter falls silent. Twitter and Facebook suffered outages and delays yesterday after denial of service attacks, raising the possibility of 'a single, massively coordinated attack' on social networking sites. Both services have been restored. Google (GOOG) managed to fend off a similar attack yesterday.
  • Exchanges back away from flash. The Nasdaq stock exchange and BATS exchange announced separately that they're both voluntarily ending the flash trading they started this year, effective September 1. The moves come amid an SEC investigation into the practice and ahead of a likely ban. Direct Edge, a fast growing rival that has used flash trading since 2006, continues to defend the practice.
  • Morgan leaves TARP behind. Morgan Stanley (MS) paid $950M to repurchase the warrant it issued the government, bringing Morgan's total payment to the government, including dividends, to $1.268B. CEO John Mack struck a positive note, saying "we appreciate the critical role that the U.S. government played last fall in helping stabilize the banking industry and financial markets at a moment of unprecedented crisis."
  • AmEx sees loan loss improvement. American Express (AXP) said write-offs tied to bad credit-card debt fell sharply for the second straight month, to 9.2% in July from 9.7% in June, and CEO Kenneth Chenault said he's seeing internal credit metrics improve for the first time in 18 months. Despite the positive improvements, analysts warned it's too soon to call a sector recovery, with many attributing the drop in charge-offs to a seasonal trend. In the specific case of American Express, Chenault was very clear that the improvements of the last two months are 'not seasonality.'
  • Clunkers gets new funds. As expected, the Senate approved an additional $2B for the 'Cash for Clunkers' program. The measure passed 60-37.
  • Jobless claims drop. Initial jobless claims came in at 550K, down 38K from a week ago (revised), and better than the 575K consensus. Continuing claims rose 69K to 6.31M.
  • Same-store sales slide. Retailers reported monthly same-store sales yesterday, with most falling short of consensus estimates. July sales were hurt by the continued trend of shoppers cutting back and waiting for discounts, and by a later start to the back-to-school shopping season.

Earnings: Friday Before Open

  • AIG (AIG): Q2 EPS of $2.57 vs. consensus of $1.67 (may not be comparable). Revenue of $29.5B (+48%) vs. $26B. Shares +3.6% premarket (7:10 ET). (PR)
  • American Oriental Bioengineering (AOB): Q2 EPS of $0.17 misses by $0.01. Revenue of $71M (+21%) vs. $75M. (PR)
  • ATP Oil & Gas (ATPG): Q2 EPS of -$0.10 beats by $0.09. Revenue of $81M (-58%) vs. $83M. (PR)
  • Cimarex Energy Co (XEC): Q2 EPS of $0.46 vs. $0.41 consensus (may not be comparable). Revenue of $223M (-64%) vs. $219M. (PR)
  • Magna International (MGA): Q2 EPS of -$1.29 misses by $0.28. Revenue of $3.7B (-45%) vs. $4.1M. (PR)
  • Mirant Corp. (MIR): Q2 EPS of $1.12 vs. consensus of $0.49 (may not be comparable). Revenue of $496M vs. $546M.
  • Senior Housing Properties Trust (SNH): Q2 FFO of $0.44 in-line. Revenue of $69M (+32%) vs. $68M. (PR)
  • Warner Chilcott (WCRX): Q2 EPS of $0.44 beats by $0.04. Revenue of $251M (+7%) vs. $252M. (PR)

Earnings: Thursday After Close

  • Alkermes (ALKS): FQ1 EPS of $0.01 beats by $0.09. Revenue of $47.5M (-41%) vs. $46.4M. (PR)
  • Assured Guaranty (AGO): Q2 EPS of $0.46 beats by $0.10. Revenue of $115M (-3%). (PR)
  • Beazer (BZH): FQ3 EPS of -$0.72 beats by $0.81. Revenue of $225M (-51%) vs. $226M. (PR)
  • CBS (CBS): Q2 EPS of $0.08 beats by $0.01. Revenue of $3B (-11%) in-line. (PR)
  • Chiquita (CQB): Q2 EPS of $1.95 beats by $1.13. Revenue of $955M (-4%) vs. $873M. (PR)
  • Computer Sciences (CSC): FQ1 EPS of $0.85 beats by $0.34. Revenue of $3.9B (-12%) in-line. Raises full-year EPS guidance to $4.80-5.00 from $4.20-4.30, vs. $4.18. (PR)
  • Crocs (CROX): Q2 EPS of -$0.06 beats by $0.15. Revenue of $198M (-11%) vs. $150M. Sees Q3 EPS of -$0.14 to -$0.16 vs. -$0.20. Sees Q3 sales of $150M-160M vs. $141M. (PR)
  • DCT Industrial Trust (DCT): Q2 EPS of $0.12 misses by $0.01. Revenue of $60M (-3%) vs. $61M. (PR)
  • Emulex (ELX): FQ4 EPS of $0.09 beats by $0.05. Revenue of $79M (-30%) vs. $78M. (PR)
  • EOG Resources (EOG): Q2 EPS of $0.73 beats by $0.31. Revenue of $861M (-21%) vs. $966M. PR)
  • Fannie Mae (FNM): Q2 EPS of -$2.67. Revenue of $5.6B (+41%). (.pdf)
  • Hansen Natural (HANS): Q2 EPS of $0.60 in-line. Revenue of $300M (+6%) vs. $309M. (PR)
  • Intrepid Potash (IPI): Q2 EPS of $0.19 misses by $0.04. Revenue of $73M (-30%) vs. $72M. (PR)
  • Leap Wireless International (LEAP): Q2 EPS of -$0.89 misses by $0.59. Revenue of $597M (+26%) vs. $636M. Net customer additions of 203,000 (+19%). Churn of 4.4%. Reduces guidance on full-year net customer addition to 1.5M. (PR)
  • Maxim Integrated Products (MXIM): FQ4 EPS of $0.11 beats by $0.10. Revenue of $395M (-21%) vs. $368M. Sees Q1 revenue of $415M-445M vs. $388M. (PR)
  • Microchip Technology (MCHP): FQ1 EPS of $0.15 beats by $0.02. Revenue of $193M (-28%) vs. $190M. Gross margin in Q1 of 51.4%. Sees Q2 EPS of $0.18-0.20 vs. $0.17. Sees Q3 revenue of $206M-214M vs. $200M. (PR)
  • Nvidia (NVDA): Q2 EPS of $0.07 beats by $0.09. Revenue of $777M (-13%) vs. $710M. Sees Q3 revenue up 5-7% over Q2. (PR)
  • Pepco Holdings (POM): Q2 EPS of $0.11 misses by $0.13. Revenue of $2.1B (-18%) vs. $2.7B. (PR)
  • Public Storage (PSA): Q2 FFO of $1.25 beats by $0.04. Revenue of $347M (-4%) vs. $394M. (PR)
  • Rovi Corp. (ROVI): Q2 EPS of $0.38 beats by $0.10. Revenue of $120M (+64%) vs. $110M. (PR)
  • Sapient (SAPE): Q2 EPS of $0.10 beats by $0.04. Revenue of $148M (-11%) vs. $144M. (PR)
  • SandRidge Energy (SD): Q2 EPS of $0.25 beats by $0.12. EBITDA of $144M (-18%). (PR)
  • Sequenom (SQNM): Q2 EPS of -$0.33 misses by $0.06. Revenue of $9M (-28%) vs. $8M. (PR)
  • VeriSign (VRSN): Q2 EPS of $0.31 misses by $0.01. Revenue of $257M (+6%) vs. $255M. (PR)
  • Westar Energy (WR): Q2 EPS of $0.35 in-line. Revenue of $468M (+4%) vs. $501M. (PR)

Today's Markets

Asian markets closed mostly down. European markets and U.S. futures are trending down too.


Complete Story »]]> DIA SPY QQQQ USO GLD AGO AIG ALKS AOB ATPG AXP BZH CBS CQB CROX CS CSC DCT ELX EOG FNM GOOG HANS IPI LEAP MCHP MGA MIR MS MXIM NVDA NYT POM PSA RBS SAPE SD SNH SQNM VRSN WCRX WR XEC Rachael Granby Microchip Technology Inc. F1Q10 (Qtr End 06/30/09) Earnings Call Transcript http://seekingalpha.com/article/154537-microchip-technology-inc-f1q10-qtr-end-06-30-09-earnings-call-transcript?source=feed 154537 Microchip Technology Inc. (MCHP)

F1Q10 (Qtr End 06/30/09) Earnings Call

August 6, 2009 5:00 pm ET

]]> Thu, 06 Aug 2009 23:27:12 -0400 Microchip Technology Inc. (MCHP)

F1Q10 (Qtr End 06/30/09) Earnings Call

August 6, 2009 5:00 pm ET


Complete Story »]]> MCHP Earnings Preview: Microchip Technology http://seekingalpha.com/article/154391-earnings-preview-microchip-technology?source=feed 154391 Microchip Technology (MCHP) is expected to report Q1 earnings after the market close on Thursday, August 6, with a conference call scheduled for 5:00 pm ET.

Guidance

The consensus estimate is 13c for EPS and $189.81M for revenue, according to First Call. On June 9, Microchip raised its Q1 outlook, indicating that net sales are expected to increase 8%-10% sequentially to about $187M -$191M, with non-GAAP EPS of 17c-18c. Non-GAAP gross margins are expected in between 50.3%-50.7% with Opex of 29%-29.5%.

]]> Thu, 06 Aug 2009 15:10:47 -0400 theflyonthewall.com theflyonthewall.com submits:

Microchip Technology (MCHP) is expected to report Q1 earnings after the market close on Thursday, August 6, with a conference call scheduled for 5:00 pm ET.

Guidance

The consensus estimate is 13c for EPS and $189.81M for revenue, according to First Call. On June 9, Microchip raised its Q1 outlook, indicating that net sales are expected to increase 8%-10% sequentially to about $187M -$191M, with non-GAAP EPS of 17c-18c. Non-GAAP gross margins are expected in between 50.3%-50.7% with Opex of 29%-29.5%.


Complete Story »]]> MCHP theflyonthewall.com Semis Work Through Inventories http://seekingalpha.com/article/146807-semis-work-through-inventories?source=feed 146807 According to the research group Gartner, the outlook for the semiconductor equipment industry is showing signs of improvement, as it appears that capital equipment spending bottomed out in the second quarter of 2009. Most semiconductor companies spent the first half of 2009 working through the high levels of inventory built up in the last six months of 2008.

Capital spending remains a major concern; it is expected to be down around 40% – 45% in 2009 and not expected to return to normal levels anytime before 2011. In fact, Gartner had earlier predicted that chip sales won't return to 2008 levels until 2013 as the industry struggle through the global downturn. The economy might show bleak signs of recovery, but the road is long and slow before demand and spending return to normalcy.

]]> Thu, 02 Jul 2009 15:44:49 -0400 Zacks.com Zacks.com submits:

According to the research group Gartner, the outlook for the semiconductor equipment industry is showing signs of improvement, as it appears that capital equipment spending bottomed out in the second quarter of 2009. Most semiconductor companies spent the first half of 2009 working through the high levels of inventory built up in the last six months of 2008.

Capital spending remains a major concern; it is expected to be down around 40% – 45% in 2009 and not expected to return to normal levels anytime before 2011. In fact, Gartner had earlier predicted that chip sales won't return to 2008 levels until 2013 as the industry struggle through the global downturn. The economy might show bleak signs of recovery, but the road is long and slow before demand and spending return to normalcy.


Complete Story »]]> MCHP ATML ONNN LSI Zacks.com